Absa Capital in two landmark African bond issuances  

  • Largest ever Domestic Medium Term Note Programme for Barclays Bank Kenya
  • Issuance is first for a listed commercial bank in Kenya
  • Botswana deal heavily oversubscribed

Absa Capital recently lead arranged two large African bond deals that underline the banks growing footprint in Africa beyond its South African base.

In Kenya, Absa Capital arranged the largest medium term note programme for Barclays Bank of Kenya Limited, the first for a listed commercial bank in that country. 

The KES5bn DMTN Programme (about R500m) and the inaugural KES1.0bn Kenyan deal was Absa Capital’s first deal in Kenya debt capital market and were issued at 60bps over the 91 day Treasury Bill rate. 

The deal was oversubscribed and taken up by local asset and pension fund managers in Kenya.  

The bonds are listed on the Nairobi Stock Exchange.

In Botswana, Absa Capital assisted Botswana Building Society in issuing BWP75m (R100m) at a yield of 11.10% for the Society’s expansion drive in a heavily oversubscribed deal. 

The borrowing was the fourth tranche for Botswana Building Society under their Botswana Stock Exchange Listed Domestic Medium Term Note Programme, lead arranged by Absa Capital. 


Note to the editor:

About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.

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